Director Shareholding

Bellway PLC
21 December 2004

                                  BELLWAY PLC


                            DIRECTOR'S SHAREHOLDINGS


                               21ST DECEMBER 2004


The Company was today informed that under the terms of the Bellway plc (1996)
Employee Share Option Scheme, Mr P J Stoker, a director of the company, today
exercised 53,000 Bellway plc 12.5p ordinary shares as follows:



                  No of shares           Price

                  53,000                 327.50


Immediately thereafter, Mr Stoker sold 43,000 Bellway plc 12.5p ordinary shares
at a price of 824p per share.


Following the above transactions, the beneficial shareholding of Mr Stoker in
the ordinary share capital of the company is as follows:



                 No of shares        %            Previous            %

                 445,000             0.40         435,000             0.39


In addition, the share options outstanding in respect of Mr Stoker following the
above transactions are as follows:



                  No of shares         Previous

                  326,600              379,600


The other interests of the directors remain unchanged.


Ends


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